Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934

For the month of April 29, 2003

If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ________

--Revenues in Line with Expectations--

• Total Revenues $735 Million
• Network Services Revenues Increase by 3.7 percent

Commenting on Equant's revenues, Didier Delepine, president and chief executive officer, said: "We are particularly gratified to meet revenue expectations in the first quarter. Conditions in the market place continue to be difficult so we will remain vigilant for the rest of the year. We saw growth in Network Services of 3.7 percent compared with first quarter 2002 as well as sequential growth of 3.0 percent, despite world events that will further delay the recovery of the global economy.

The most recent survey by the Yankee Group scored Equant highest among nine global carriers as a result of our focused and consistent strategy in the enterprise market; our extensive European and Global network with its significant in country reach and our front line position in IP VPNs.

At this difficult time for our industry we remain confident as a result of our pre-eminent position in the marketplace."

Network Services Indirect refers to revenues through Radianz, Deutsche Telekom, Sprint, and other wholesale channels.

In the first quarter of 2003, France Telecom Transpac's Network Services revenues increased by $22 million over the first quarter 2002 as a result of the transfer of contracts and customers. To better reflect this transfer of revenue and the final business position in France, France Telecom Transpac's Network Services revenues are now treated as part of Network Services Direct.

Indirect channel revenues continued the pattern of previous quarters, primarily as a result of reductions in revenues from both Sprint and Deutsche Telekom.

Revenues from Integration Services decreased 2.3 percent to $103 million this quarter reflecting general economic conditions. Fulfillment revenues were down by 4 percent in the first quarter 2003 with marked weakness in Central Europe and the Middle East. In

the first quarter of 2003, services and hosting revenues were broadly flat compared with the first quarter of 2002 but with significant regional variations. For example, the weak economy in the US has had a significant impact on the demand for small enterprise contracted computer maintenance.

Revenues from SITA were $173 million in the first quarter of 2003 declining from $178 million in the first quarter 2002 as a result of pricing changes and the agreed, lower minimum revenue commitment, effective from July 2002, partially offset by additional circuit revenues.

Revenues derived from the France Telecom Group, which are included above, totaled $91 million in the quarter, compared with $60 million in the first quarter of 2002, largely reflecting the transfer of Network Services revenues as outlined above.

The Company will host a conference call for investors on April 29, 2003 at 9:00 am (ET) and 3:00 pm. (CET). The call can be accessed via the Equant web site (www.equant.com) or by dialing +1 913-981-5523 in North America or +44-20-7984-7582 in Europe.

Equant (NYSE: ENT, Euronext Paris: EQU) is a recognized industry leader in global data and IP network and integration services for multinational businesses. The Equant network has unmatched seamless global reach, connecting key business centers in 220 countries and territories, with local support in 167 countries and territories. Building on more than 50 years of experience in data communications, Equant serves thousands of the world's top companies with the industry's most extensive portfolio of managed network services, including the market-leading IP VPN used by 750 global businesses as of March 2003. Equant, a member of the France Telecom Group, was named Best Global Carrier 2002 at the World Communication Awards and consistently leads industry surveys in corporate user satisfaction.

This release may contain projections or other forward-looking statements related to Equant that involve risks and uncertainties. Readers are cautioned that these statements are only predictions and may differ materially from actual future results or events. Readers are referred to the documents filed by Equant with the SEC, specifically the most recent filing on Form 20-F, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements, including, among other things, risks relating to Equant's history of operating losses, the unpredictability of growth in Equant's markets, changing technology, uncertain and changing regulatory restrictions, Equant's international operations, dependence on suppliers, network security issues, competition, and volatility of Equant's stock price and risks relating to the completion of the integration with Global One by the deadline to receive reimbursement from France Telecom. All forward-looking statements are based on information available to Equant on the date hereof, and Equant assumes no obligation to update such statements.